The Worldwide Internet of Things (IoT) Industry is Expected to Grow at a CAGR of 21.3% Between 2020 to 2026 – MENAFN.COM

SourceMENAFN
SectorIndustrial
CountryMiddle east

The global IoT Market is anticipated to grow at a CAGR of 21. 3% during the forecast period. The increasing development of wireless networking technologies, rise in cloud platform adoption, miniaturization, and the emergence of advanced data analytics are the factors that are driving the global IoT market.

The other factors that are propelling the growth of the market including advancement in data analytics, computing economies, and demand from varied domains including manufacturing, automotive, energy, and others. IoT brings different physical objects to be linked by a common network. The IoT market is split into various major segments such as analytics, security, cloud, mobile technologies, and platforms. integration, automation, and cloud computing are major driving forces behind the IoT market. The issues such as Security and Privacy are restraining the market growth. Further, the IoT technology also assists in connecting various devices to provide ease in the operation and sharing of data amongst themselves. The IoT market caters to every...read more...